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Harmony Advances $2.3 Billion Queensland Copper ProjectHarmony Gold Mining has announced the completion of feasibility studies and the approval of a final investment decision for its Eva copper project in northwest Queensland.
Located in Conclurry, near Mount Isa, the 100 per cent-owned project is expected to produce around 65,000 tonnes of copper concentrate per year for the first five years of operation.
The project has an expected production average of 60,000 tonnes and 19,000 ounces of gold thereafter.
This will be achieved, Harmony said, through the processing of 18 million tonnes of ore per year for the 15-year mine life currently estimated with all-in-sustaining cost (ASIC) deemed “attractive” at $US2.50 per pound.
Project capital for the site is said to sit at an estimated $2.3 billion–$2.6 billion, according to reports, with around $40,000 made per tonne of copper produced, reinforcing the project’s “capital efficiency”.
“The Eva Copper Feasibility Study delivers a strong, high-confidence outcome that positions Harmony for the next phase of growth as we continue building a high-quality, low-cost portfolio,” Harmony chief executive officer Beyers Nel said.
“Over the past three years, we have received strong support from the Queensland Government and key stakeholders as we systematically de-risked this project, driving resource and reserve expansion at exceptionally low discovery costs and unlocking further upside potential.”
The project’s two million tonne copper resource is said to provide a strong foundation for continued resource growth and value enhancement with the potential to extend the already-established life-of-mine beyond 15 years.
With financial approval now in place, construction is expected to take up to 30 months to complete with first production earmarked for the second half of 2028.
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Australian Mining
mining
26 November 20252 min readHarmony Advances $2.3 Billion Queensland Copper Project
Australian Mining
26 November 2025
mining
Hd Hyundai Wins 1.46 Billion Usd Order For Eight Ultra-Large Container Shipsin Shipbuilding News
25/11/2025
HD Hyundai has secured an order for ultra-large container ships worth around 1.46 billion USD, recording the largest container ship order volume in 18 years since the shipbuilding supercycle in 2007.
HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the intermediate holding company for HD Hyundai’s shipbuilding business, announced on Sunday, November 23, that it has signed a shipbuilding contract with HMM for eight 13,400-TEU dual-fuel container ships. The total contract value amounts to 1.456 billion USD.
The vessels ordered are 337 meters in length, 51 meters in width, and 27.9 meters in height. They are equipped with LNG dual-fuel engines and a significantly enlarged fuel tank—expanded by approximately 50%—to enhance operational efficiency. Of the eight vessels, two will be built by HD Hyundai Heavy Industries (HHI) and six by HD Hyundai Samho, with deliveries scheduled consecutively through the first half of 2029.
Through this contract, HD Hyundai has achieved its largest container-ship order volume since 2007, when global cargo demand peaked during the economic boom (793,473 TEU). HD KSOE has secured orders for a total of 720,000 TEU (69 vessels) in container ships this year, marking the highest order volume among domestic shipbuilders.
Container ships built by HD Hyundai are regarded as highly cost-competitive when considering operating expenses over the vessel’s entire lifecycle, despite their relatively higher prices compared to competitors.
Since 2023, HD Hyundai has applied “HiNAS Control”—an autonomous navigation assistance system developed by Avikus, a subsidiary specializing in autonomous navigation—to newly built vessels. Actual operational data has confirmed that the system’s autonomous navigation support features and RPM optimization deliver a 15% reduction in carbon emissions and a 15% improvement in fuel efficiency.
An HD Hyundai representative stated, “We are further solidifying our position in the global market based on advanced technological capabilities and customer trust,” adding, “Going forward, we will continue to lead the decarbonization of the shipbuilding and shipping industries through technological competitiveness focused on eco-friendly and high-efficiency vessels.”
Source: HD Hyundai
Hellenic Shipping News
port & ship
26 November 20252 min readHd Hyundai Wins 1.46 Billion Usd Order For Eight Ultra-Large Container Ships
Hellenic Shipping News
26 November 2025
port-and-ship
Japan’S Pv Module Shipments Hit 1.28 Gw As Residential Demand AcceleratesJapan’s solar module shipments hit 1.28 GW in the first quarter of fiscal 2025, driven by a sharp rise in residential demand that pushed domestic deliveries to 1.273 GW, up 111% from a year earlier, according to the JPEA, a trade group representing Japanese solar manufacturers.
Residential PV installations jumped 126%, offsetting weaker growth in commercial systems, the JPEA said in its latest quarterly report.
Foreign manufacturers continued to dominate the market, supplying 828 MW, or 65% of total shipments, up 114% year on year.
Japanese suppliers shipped 452 MW, maintaining a 35% share. Production remained overwhelmingly offshore, with 95% of modules manufactured outside Japan, said the JPEA.
The non-residential segment delivered 900 MW, up 105%, including 490 MW for large-scale power generation and 410 MW for general commercial use. Overseas shipments remained marginal at 6.5 MW, roughly two-thirds of last year’s level.
Modules rated 300 W and above accounted for most of the volume, totaling 1.131 GW for the quarter.
Japanese companies shipped 445 MW domestically, with 241 MW for residential use, 80 MW for power generation, and 125 MW for commercial sites.
Foreign companies supplied 828 MW domestically, including 132 MW for residential, 411 MW for power generation, and 285 MW for commercial installations.
The overall pattern reflects continuing reliance on foreign manufacturing, strong residential demand, and steady growth in large-scale solar projects, with domestic shipments led by the Southeast region, said the JPEA.
Japan aims to accelerate its energy transition by expanding renewable capacity, improving grid flexibility, and integrating emerging technologies such as perovskite solar and green hydrogen. The government has launched two new subsidy schemes, offering up to 75% cost support for perovskite modules and storage, to hit its target of 20 GW of perovskite capacity by 2040, according to the Ministry of the Environment.
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PV Magazine
powerplant
25 November 20252 min readJapan’S Pv Module Shipments Hit 1.28 Gw As Residential Demand Accelerates
PV Magazine
25 November 2025
powerplant
Thames Water Gets Go-Ahead From Creditors To Access Further Funding From £1.5 Billion FacilityOn 10 November 2025,Thames Water announced announced the launch of its fifth Consent Requests for Super Senior Issuer Funding from the initial £1.5 billion available under its super senior liquidity facility – to date it has so far drawn £872 million of the facility. The water company entered into the facility with its subsidiary, Thames Water Super Senior Issuer PLC.
The consents will allow Thames Water to draw a further £321 million in November 2025.
The Facility includes conditions precedent to drawdowns, including the so-called June Release Condition, which (as amended on 15 July 2025) requires Thames Water to have entered into a supported lock-up agreement by 31 July 2025 in respect of a second restructuring plan. However, the June Release Condition was not met.
The fifth Consent Requests launched by Thames and the Super Senior Issuer sought the consent of the super senior creditors:
Whilst the June Release Condition remains unsatisfied, any further drawdowns of the remaining balance of the £1.5 billion facility by the water company will be subject to further consents and conditions having first been obtained or satisfied. Subject to the satisfaction or further extension of the June Release Condition, Thames expects to make further drawdowns of the facility in the first quarter of 2026.
It is not intended that the utility will access the further £1.5 billion Accordion Facility under the super senior liquidity facility until, amongst other things, the initial £1.5 billion facility has been drawn in full.
The Accordion Facility is expected, if and when it becomes available to Thames, to provide liquidity until at least the third quarter of 2026.
Given the approvals, Thames and the Super Senior Issuer will proceed with the implementation of the consents and amendments outlined in the Fifth Consent Requests.
Water Briefing
water
25 November 20252 min readThames Water Gets Go-Ahead From Creditors To Access Further Funding From £1.5 Billion Facility
Water Briefing
25 November 2025
water
Georgia Power’S Large Load Pipeline Shrinks By 6 GwGeorgia Power’s pipeline of large load economic development projects shrank a net 6 GW from the second quarter to the third quarter to 50.9 GW due to projects that exited, the utility said in a Friday filing with the Georgia Public Service Commission.
Around 6.8 GW of new large load projects entered the pipeline, and projects in the pipeline increased their projected load by a total of 1.6 GW, while 14.3 GW of projects exited, Georgia Power said.
Georgia Power’s pipeline of near-term large load projects slated for winter of 2028 and 2029 decreased this quarter by 1.4 GW, to a total of 24.4 GW, the report said.
“Although the total and large load economic development pipelines have shrunk, the number of commitments to Georgia Power for electric service from large load customers have grown from 26 to 28,” Georgia Power said in the report.
Those two new commitments together account for 2.2 GW and bring the utility’s total commitments to 11 GW, the report said, and since last quarter “an additional five customers have broken ground, reflecting an increase in the long-term load from 3,721 MW in Q2 2025 to 7,313 MW in Q3 2025.”
Of the 28 committed projects, 18 have broken ground and 10 are pending construction, which “indicates that these large load customers are materializing and making progress without material delays,” the report said.
Georgia Power said that in the near-term, “projects that have broken ground represent 6,175 MW of the total 7,800 MW of customer commitments for the winter of 2028/2029.” The utility could not be immediately reached for comment.
Testimony filed Nov. 12 on behalf of the commission’s public interest advocacy staff warned that Georgia Power’s residential customers could see their monthly bills increase if the utility completes its planned generation buildout to support new data centers.
“The majority of the new generation Georgia Power seeks to certify … is not backed by executed contracts under the new large load framework,” stated the testimony, given by PSC staff members and consulting analysts. “Only about 1,900 MW is supported by such contracts. The rest is speculative and exposes customers to the risk of stranded costs if the anticipated load does not materialize.”
The staff testimony noted that the data center segment is “primarily underperforming expectations due to a mixture of lower materialization rates, project cancellations, and delays.”
“Since the 2023 IRP Update, thirty-three data center projects with 11,332 MW of announced load have been removed from the pipeline, representing ~55% of all project removals, and ~65% of announced load removed,” the testimony stated. “24% of data center projects that entered the LRM have been removed with an average of five data center projects exiting the pipeline each quarter … It is unclear whether the Company’s model accounts for this level of project removal.”
Utiltiy Dive Generation
powerplant
25 November 20253 min readGeorgia Power’S Large Load Pipeline Shrinks By 6 Gw
Utiltiy Dive Generation
25 November 2025
powerplant
New Report From Nhbc Foundation Projects Five Billion Litre Potable Water Shortfall In Uk By 2050This comprehensive report examines water efficiency and water reuse in residential development in an international context. It features comment and analysis from ten countries demonstrating leadership in water management in the urban environment, with a focus on housing developments.
Demand for water globally is rising due to a range of factors including population growth, urbanisation and increasing need from agricultural, industrial and energy sectors. Across the globe total freshwater use was four trillion m3 per year in 2014. According to the United Nations Educational, Scientific and Cultural Organization (UNESCO), during the last six decades municipal water consumption grew at the fastest rate when compared to other uses.
The Water Compendium reveals that the UK can expect a projected short fall in potable water of five billion litres per day by 2050. To address this gap the government has announced ambitious targets, some of which relate to reductions in domestic water supply. While every country is unique, the Water Compendium encourages the UK not to ignore critical insights and learn from successes in other geographical areas.
The countries studied in this new publication, which included Japan, the Netherlands and the United States, were assessed against the same set of parameters and presented in a unified format for easy comparison. Each country report provides information on the geographic, climatic and statistical indicators, as well as a brief review of their approach to water efficiency targeting and decentralised water reuse. Country reports also include the description of applicable requirements, central and regional/local policies, incentives (where available) and a project that serves as an example of an innovative scheme representative of good practice in that country.
The Water Compendium also provides definition of water reuse terminology. Decentralised water reuse is defined as the process of collecting, treating and reusing alternative water at or near its source. Types of alternative water sources that are most often reused in residential developments include rainwater, stormwater, greywater and wastewater.
Additionally, the report also looks at and clarifies sustainability rating standards; some new developments and refurbishment projects are designed and constructed to achieve certain ratings under different sustainability standards. Higher ratings often serve as a prerequisite for attracting sustainability-conscious investors, buyers and tenants. Most popular rating schemes include water efficiency as an assessment category and the introduction of water reuse can be driven by the desire to achieve higher ratings.
Richard Smith, Head of Standards, Innovation & Research at NHBC, the UK’s leading independent provider of warranty and insurance for new homes, commented:
“Water is our most precious resource and vital to us all. The Water Compendium not only highlights the need to understand and manage water usage but also considers practical, real-world examples of how safe, clean water can be made available to everyone. That’s why I’m delighted this report from NHBC Foundation is so comprehensive - it looks at the issue of domestic water use and how this impacts house building in a broader context, considering solutions from a global perspective.”
Click here to download the report
Water Briefing
water
25 November 20253 min readNew Report From Nhbc Foundation Projects Five Billion Litre Potable Water Shortfall In Uk By 2050
Water Briefing
25 November 2025
water
Atlas Maritime Revealed As Seller In $194M Okeanis Suezmax DealGreek owner Okeanis Eco Tankers disclosed last week that it is expanding its crude fleet with the purchase of two suezmax newbuilding resales. Brokers now reveal the seller as Atlas Maritime, with the vessels identified as Viking Star and North Star.
The New York- and Oslo-listed company, controlled by the Alafouzos family, has agreed to pay $97m each for the 157,000 dwt ships, which are under construction at Daehan Shipbuilding in South Korea.
The deal leaves Leon Patitsas-led Atlas Maritime with seven tankers from the same yard in the water, six of which hit the water this year and one 2023 model—four LR2s, two suezmaxes and one aframax—alongside a further 12 ships on order.
Splash247
port & ship
25 November 20251 min readAtlas Maritime Revealed As Seller In $194M Okeanis Suezmax Deal
Splash247
25 November 2025
port-and-ship
Vianode To Build North America’S First Large-Scale $3.2 Billion Clean Graphite Factory In OntarioVianode, a Norwegian advanced battery materials company, is investing $3.2 billion to build a synthetic graphite factory in St. Thomas, Ontario. The facility, called Via TWO, represents Vianode’s first large-scale production plant in North America. It will help supply the growing demand for graphite in electric vehicle (EV) batteries, energy storage, and other critical industries.
The first phase of the plant is expected to create around 300 skilled jobs, with eventual growth to 1,000 workers when fully scaled. The Ontario government is supporting the project with a loan of up to CAD $670 million. Vianode’s CEO, Burkhard Straube, highlighted that this investment underscores Ontario’s strength in clean tech and manufacturing. For the City of St. Thomas, the project is a major generational opportunity, bringing home high-paying jobs and sustainable industry.
Company: Vianode (Norwegian battery materials firm)
Plant Name: Via TWO
Location: Yarmouth Yards, St. Thomas, Ontario
Investment: CAD $3.2 billion
Government Support: Up to CAD $670 million loan from Ontario
Jobs: around 300 initially; up to 1,000 at full capacity
Production Start: Expected in 2028
Annual Capacity (future): Up to 150,000 tonnes synthetic graphite
Emissions Profile: Vianode’s technology claims up to 90% lower CO₂ emissions vs conventional graphite
Vianode picked St. Thomas after a detailed North American site selection process, citing several key advantages. The city offers a low-carbon electricity grid, which supports Vianode’s sustainability goals. It is also strategically located near manufacturing hubs, including a major EV battery plant being built by PowerCo (Volkswagen’s battery unit). According to Vianode, St. Thomas has a skilled workforce that’s ready to scale for advanced manufacturing.
This plant is more than just a local factory, it plays into a larger global strategy for battery and critical mineral supply chains. Vianode’s investment aligns with Canada’s ambitions under the G7 Critical Minerals Production Alliance to build resilient, secure materials capacity. Synthetic graphite is critical not just for EVs; it’s also used in semiconductors, grid storage, nuclear tech, and defense systems. By localizing this production, Canada reduces reliance on imports, especially away from dominant graphite producers abroad.
St. Thomas is fast becoming a clean-tech manufacturing hub. Just nearby, Volkswagen’s PowerCo is building a major EV battery plant. That means Vianode’s graphite production will directly feed into future EV battery factories. It’s part of Ontario’s push to own more of the EV supply chain, from raw materials to finished batteries. Government leaders argue that this dual push for minerals capacity and EV manufacturing will make the province more resilient to geopolitical supply shocks.
Ground-preparation work has officially started in Yarmouth Yards. Vianode plans to move into phased build-out in the coming months, with production expected by 2028. Over time, the facility will to scale capacity massively to help supply graphite for millions of EVs. The investment is also expected to draw further clean-tech and critical minerals players to southwestern Ontario, cementing its role in Canada’s future economy.
Construction Review
factory
22 November 20253 min readVianode To Build North America’S First Large-Scale $3.2 Billion Clean Graphite Factory In Ontario
Construction Review
22 November 2025
factory
175T Bridge Lifted Into Place Over River Trent In NottinghamA new pedestrian and cycle bridge has been installed across the River Trent in Nottingham after engineers used a large crawler crane to lift the 87m-long structure into place.
The 175t steel span was hoisted into position by a CC6800 crawler crane, which was assembled onsite and rose to a height of 75m. The lift was carried out from temporary supports and manoeuvred onto permanent abutments on a carefully choreographed schedule involving contractor Balfour Beatty, specialist lift firm Mammoet and fabricator Briton Fabricators.
Because of the bridge’s mass, the crane operated from purpose-built tracks and large counterweights. Project teams said the operation was completed without incident, marking a major construction milestone for the scheme.
The bridge will form the final element of Nottingham City Council’s Transforming Cities Fund programme, a package of projects launched in 2020 after the council secured more than £160M of central government funding intended to improve inter-city connectivity and encourage lower‑carbon travel.
When finished, the crossing is intended to strengthen active-travel links across the city, providing walking and cycling routes that organisers say will be particularly useful for people travelling to sporting venues and riverside amenities on both sides of the Trent.
Work now continues on approach ramps, steps, walkways, a smaller bridge over Trent Basin and surrounding landscaping. The city council has scheduled the opening for late spring 2026.
The new bridge follows other recent local investments aimed at improving sustainable travel, but it also comes amid wider debate over how councils should allocate government transport funding between walking, cycling, buses and road projects. Supporters say schemes such as this increase options for non-car journeys and reduce carbon emissions; critics argue that outcomes depend on how the new infrastructure is integrated with wider transport networks and services.
Nottingham City Council executive member for regional development, growth and transport Linda Woodings said: “This is a big milestone moment for our project to build a new walking and cycling bridge over the river Trent – it was thrilling to be at the riverside and see the new bridge land on its supports just as planned. I want to say a huge thank you to all the many people involved and I know I speak for everyone locally when I say that I can’t wait to try it out come spring.”
Balfour Beatty project director Sunil Karra said: “We’re extremely proud to have safely and successfully completed this major milestone today, with the new 175t bridge now in position across the River Trent. This complex bridge lift was made possible through detailed planning and close collaboration with our project partners and the Council.
“We now look forward to completing the remaining works and connecting communities on both sides of the river.”
Rushcliffe Borough Council cabinet portfolio holder for leisure and wellbeing, ICT and member development Jonathan Wheeler said: “It is good to see another major step towards the opening of the bridge that will create more connectivity for residents on both sides of the river for further opportunities to travel in a more sustainable way.
“Creating this new link for cyclists and pedestrians will create easier access to nearby open spaces in Lady Bay and West Bridgford and our local sports grounds and leisure facilities, encouraging more people to make lower carbon journeys.”
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New Civil Engineer (Bridge)
road-bridge
21 November 20253 min read175T Bridge Lifted Into Place Over River Trent In Nottingham
New Civil Engineer (Bridge)
21 November 2025
road-bridge
Eni’S $180M Pitch To Boost Egyptian Gas OutputItalian energy company Eni reportedly plans to invest $180 million in a new gas processing plant at its Meleiha onshore concession in Egypt’s Western Desert amid a growing domestic shortfall of gas.
The plant will have a processing capacity of 100 million cubic feet per day, Asharq Business, an Arabic-language financial website, reported, quoting an unidentified official.
Eni aims to add nearly 80 million cubic feet per day to the country’s gas production by next September, as part of a plan to increase output from the Meleiha fields next year.
The plant will increase field efficiency and reduce losses, helping Cairo to boost domestic gas production and narrow the production-consumption gap.
Eni also intends to build a new gas pipeline within the concession and link it to the northern pipeline in the Mellaha area, strengthening gas processing and transport in the Western Desert.
The Italian company started production from the Mellaha field in April 2022 with an initial capacity of 8,500 barrels of oil equivalent per day.
Egypt’s petroleum ministry has been working with foreign companies to complete five gas projects next fiscal year, with total investments of $1.6 billion. The country’s fiscal year runs from July 1 to June 30.
It produces an estimated 4.2 billion cubic feet of natural gas per day, compared with domestic demand of 6.2 billion cubic feet per day.
In October Eni resumed offshore exploration in Libya after a hiatus of over five years.
This month, Egypt launched a global tender for oil and gas exploration in four Red Sea regions, aiming to attract new foreign investment and boost domestic gas production.
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Arabian Gulf Business Insight
oil & gas
19 November 20252 min readEni’S $180M Pitch To Boost Egyptian Gas Output
Arabian Gulf Business Insight
19 November 2025
oil-gas
Pittsburgh International Airport Opens New $1.7 Billion TerminalPittsburgh International Airport (PIT) has officially opened its brand-new landside terminal. The 1.7 billion USD facility is designed to modernise the airport’s operations, improve passenger experience, and reflect the character of the Pittsburgh region.
The new terminal replaces a 33-year-old building originally built when PIT functioned as a major US Airways connecting hub. The old layout required passengers to transfer between the landside check-in area and the airside concourses via an underground tram — a system now being retired.
With the opening of this terminal, check-in, security, and baggage claim are now housed in a single, streamlined building, dramatically reducing walking times. Officials say that the time from curb to gate has been halved for many passengers.
The architectural design, led by Gensler, Luis Vidal + Architects, and HDR, draws inspiration from the Western Pennsylvania landscape. Tree-like steel columns, wood-finish ceilings, and large windows bring natural elements inside. theintelligencer.net The terminal also features four outdoor terraces, two before security and two after, landscaped with native plants for a calming, open-air experience.
Security has been dramatically expanded: the terminal now offers 12 TSA lanes, while consolidating previous checkpoints into one. The screening uses CT technology, including smart scanners that allow passengers to leave liquids and laptops in their bags, and automated bin returns to simplify throughput.
A major improvement comes in baggage processing. The new system reduces the length of conveyor belts from around 8 miles to just 3 miles, with optimised routing that is expected to cut luggage delivery times by roughly half. There are also eight large baggage carousels, allowing for more efficient arrivals.
Parking has also been addressed in this redevelopment. The new terminal is served by a 3,300-space covered parking garage, complemented by a surface lot, giving over 6,000 parking spots within a five-minute walk of the terminal. The garage is equipped with a smart guidance system: overhead sensors and green lights help drivers identify free spaces in real time.
Airport Industry News
airport
19 November 20252 min readPittsburgh International Airport Opens New $1.7 Billion Terminal
Airport Industry News
19 November 2025
airport
Turkey'S Tpao Targets $4 Billion Debt Issuance To Accelerate Oil And Gas Production(Bloomberg) – Turkey’s state energy company Turkiye Petrolleri AO plans to sell as much as $4 billion in Islamic debt as part of its push to expand oil and gas production, marking the firm’s first such international debt offering.
The company, also known by its Turkish initials TPAO, is preparing to issue the five-year sukuk to international investors by the end of the year, Energy Minister Alparslan Bayraktar told Bloomberg on Monday.
The debut sukuk follows non-deal roadshow meetings in London, Abu Dhabi and Dubai, where officials briefed potential investors on TPAO’s financial outlook and projects, including Black Sea natural gas production and the Gabar oil field in Turkey’s southeast, he said.
Owned by Turkey’s sovereign wealth fund, TPAO also has a growing portfolio of international projects including exploration plans in Libya, Oman and Pakistan alongside existing production in Azerbaijan, Iraq and Russia.
TPAO produced 33.7 MMbbl of oil and 2.2 Bcm of gas in Turkey in 2024, former CEO Ahmet Turkoglu told a parliamentary commission earlier this year. It also pumped 39.4 MMboe from international projects.
He said that the company made a profit of 15.4 billion liras last year — equivalent to around $390 million at the time of the comments.
Production is set to increase both at home and abroad. Turkey plans to increase output at the main Black Sea gas field, Sakarya, to 45 MMcm/d in 2028 from the current 9.5 MMcm/d, Bayraktar said. TPAO is also planning to develop unconventional reserves in the southeast in partnership with U.S.-based Continental Resources, Inc. and TransAtlantic Petroleum Ltd.
TPAO established a subsidiary, TPAO Varlik Kiralama, earlier this month to manage the sukuk issuance.
The debt sale comes as Turkey’s borrowing costs decline due to an easing of political tensions at home, the government’s commitment to orthodox economics and improved sentiment toward emerging markets.
That has fueled wave of issuances from both the state and private sector and led Gulf banks in particular to expand their lending in the country.
World Oil
oil & gas
19 November 20252 min readTurkey'S Tpao Targets $4 Billion Debt Issuance To Accelerate Oil And Gas Production
World Oil
19 November 2025
oil-gas
Vulcan Elements To Build $918M Rare Earth Magnet Factory In Benson, North CarolinaVulcan Elements Inc. plans to build a $918.1 million rare earth magnet factory in Benson, North Carolina, expanding its production capacity and adding 1,000 jobs in Johnston County, the company announced Tuesday.
The company currently operates a smaller magnet manufacturing facility in Research Triangle Park. The new 1 million-square-foot site in Benson represents a major scale-up and is expected to become the largest magnet production plant outside China. Rare earth magnets play a critical role in technologies dependent on electric motors and precision motion systems, including but not limited to electronics, robotics, electric vehicles, data centers, and numerous defense applications.
The plant will produce up to 10,000 metric tons of Neodymium Iron Boron magnets each year. This expansion addresses rising demand in advanced manufacturing and strengthens the domestic magnet supply chain.
The state’s Economic Investment Committee approved a Job Development Investment Grant to support the project. Over 12 years, the project is expected to add about $2.6 billion to the state economy. The JDIG allows the company to receive up to $17.58 million if it meets annual job creation and investment targets.
Because Johnston County is a Tier 3 county, the state will allocate up to $5.86 million to the Industrial Development Fund – Utility Account for rural infrastructure. The state may also provide up to $250,000 for road improvements.
The project will create new administrative, engineering, and production jobs, with an estimated annual payroll of $81.9 million. Multiple state and local partners, including the North Carolina Department of Commerce, the Economic Development Partnership of North Carolina, Johnston County, and the Town of Benson, supported the project.
Vulcan Elements recently announced a $1.4 billion partnership with the U.S. Government and ReElement Technologies to expand a fully domestic rare earth magnet supply chain. The agreement includes plans for a U.S.-based 10,000-metric-tonne magnet production facility and expanded recycling and processing of end-of-life magnets and electronic waste.
The expansion will receive federal and private funding, including a $620 million direct loan from the Office of Strategic Capital, $50 million from the Department of Commerce under the CHIPS and Science Act, $550 million in private capital, and an $80 million direct loan to ReElement Technologies. In exchange, the government will receive warrants in both companies and $50 million in equity in Vulcan Elements.
This project builds on a recently completed rare-earth magnet facility in Sumter County, South Carolina, contributing to a broader national effort to expand domestic magnet production.
Project: Vulcan Elements domestic rare earth magnet facility expansion
Location: Benson, Johnston County, North Carolina
Investment: $918.1 million
Jobs Created: 1,000 new positions (administrative, engineering, and production roles)
Facility Size: 1 million square feet
Production Capacity: 10,000 metric tonnes of Neodymium Iron Boron magnets annually
Purpose: Expand domestic rare earth magnet production capacity; support growing demand in electronics, robotics, electric vehicles, data centers, and defense systems
Estimated annual payroll: $81.9 million
Job Development Investment Grant (JDIG) approved for 12 years
Projected state economic growth over 12 years: $2.6 billion
Potential JDIG reimbursement to company: up to $17.58 million
Tier 3 County Adjustment: Up to $5.86 million allocated to the Industrial Development Fund – Utility Account to support rural infrastructure
Additional State Support: Up to $250,000 anticipated for road improvements
Construction Review
factory
19 November 20253 min readVulcan Elements To Build $918M Rare Earth Magnet Factory In Benson, North Carolina
Construction Review
19 November 2025
factory
Panynj Outlines Airport Modernisation In Proposed $45 Billion Capital PlanThe Port Authority of New York and New Jersey (PANYNJ) has published its proposed 45 billion USD capital plan for 2026–2035, setting out a decade of investment across its aviation network, including major upgrades at JFK, Newark Liberty and LaGuardia.
The authority states that the plan builds on the momentum of current redevelopment programmes and is structured to address growing demand, climate resilience requirements and the need for modern, reliable passenger infrastructure. As with previous plans, the programme is funded without state or local tax revenue.
The capital plan advances the multi-year redevelopment of John F. Kennedy International Airport, one of the largest airport transformation projects underway in the United States.
A significant element is the planned redesign of AirTrain JFK, with higher-capacity trains and upgraded stations intended to improve service reliability and support the expanded terminal footprint. The first gates of the new Terminal 1 and Terminal 6 are due to open in 2026, alongside further phases of the airport’s redesigned internal roadway network.
At Newark Liberty International Airport, work on the new 3.5 billion USD AirTrain Newark continues. The replacement system is designed to deliver improved reliability, longer trains and more efficient inter-terminal, parking and rail-station connections.
The plan also includes:
The plan provides for the replacement of the 85-year-old Terminal A while preserving its landmark rotunda. The project complements the existing redevelopment of Terminals B and C, which were delivered under previous capital plans.
Passenger access improvements form a major component, including:
The redevelopment is designed to manage increased passenger demand and integrate LaGuardia more effectively into the region’s transit network.
Airport-linked sustainability measures feature prominently. The authority has earmarked funding to support its target of cutting greenhouse gas emissions by 50 per cent by 2030. This includes fleet electrification, zero-emission ground operations where feasible, and resilience projects designed to mitigate extreme weather impacts across airfield, terminal and landside infrastructure.
The capital plan maintains support for digital transformation, with ongoing development of autonomous technologies, AI tools and advanced air-mobility concepts. These initiatives aim to enhance operational efficiency, safety and passenger flow management across the aviation network.
Alongside the capital plan, the Port Authority has issued its 2026 budget proposal, totalling 10.1 billion USD. Of this, 4.1 billion USD is allocated to capital works, including AirTrain Newark construction, continued redevelopment at JFK, and state-of-good-repair programmes across the three major airports.
Passenger volumes are expected to remain strong in 2026, with demand forecasts underpinning investment in new terminal capacity, modernised AirTrain systems and broader access improvements.
Airport Industry News
airport
15 November 20253 min readPanynj Outlines Airport Modernisation In Proposed $45 Billion Capital Plan
Airport Industry News
15 November 2025
airport
Bhp’S Billion-Dollar Pilbara PlanBHP is reaffirming its long-term commitment to the Pilbara, with Western Australia Iron Ore (WAIO) asset president Tim Day announcing more than $1 billion in new investment for Port Hedland at the 2025 Hedland Economic Forum.
Day said BHP’s plans include the delivery of a sixth car dumper at Nelson Point, which will support sustained production of more than 305 million tonnes a year over the medium term.
“We’re investing more than $1 billion to deliver a sixth car dumper at Nelson Point,” Day said. “This will enable at least five car dumpers to run around 90 per cent of the time. It’ll generate some massive opportunities to create jobs and drive the economy here in Hedland too.”
He said the project reflects BHP’s broader focus on “writing the next big chapter” for the region through collaboration between miners, government, traditional owners, businesses and the community.
“The Pilbara is the engine room of Australia,” he said. “We need to focus on how we can unlock new projects and growth opportunities, improve liveability through better housing, healthcare and education, and create more opportunities for local industry to thrive.”
Day said local partnerships remain crucial, noting that last year BHP spent more than $730 million with nearly 300 Western Australian businesses, including $50 million through its Local Buying Program.
BHP is also collaborating with the WA Government and Core Innovation Hub to deliver the Made in the Pilbara grants program, which aims to help local businesses innovate and grow.
Decarbonisation remains a key focus for the miner. Day outlined BHP’s progress in trialling battery-electric haul trucks at the Jimblebar mine and preparing for the arrival of Australia’s first battery-electric locomotives in Port Hedland next month through its partnership with Wabtec.
“Replacing diesel isn’t just a fuel switch; it’s a transformation in how we operate, power our sites and train our people,” he said. “Electrifying our fleet isn’t just about lower emissions, it’s about smarter logistics, safer operations and a more resilient future.”
Day said BHP’s collaboration with Rio Tinto, Caterpillar and Komatsu on trialling battery-electric haul trucks in the Pilbara.
“Port Hedland isn’t just a gateway,” he said. “It’s a launchpad for the future of our industry.”
Get 50 per cent off your Australian Mining annual magazine subscription during our Black Friday sale. Visit our subscription page and use the code: AMBF25. Ends on 27 November 2025.
Australian Mining
mining
14 November 20252 min readBhp’S Billion-Dollar Pilbara Plan
Australian Mining
14 November 2025
mining
Plans Are Unveiled For A 322-Meter Residential Skyscraper In Jersey CityA major new development has been proposed for Jersey City that would reshape the city’s skyline and include a 322-meter skyscraper.
Located at 100 Bay Street, the project from BLDG Management envisions two high-rises—one at 90 floors and the other at 40 floors—set atop a shared podium and linked by a sky bridge at the 40th floor. Designed by architecture firm Pelli Clarke & Partners, the development aims to integrate with the character of Jersey City’s Arts District while introducing a bold new architectural landmark on the Hudson River waterfront.
The 1.6-million-square-foot (148,644 square meter) complex would comprise approximately 1,300 apartments, with 20 percent designated as affordable housing. Units will range from smaller residences suited to individuals to larger layouts designed for families. Plans also include 29,000 square feet (2,694 square meters) of retail space at street level, creating an active pedestrian experience, along with amenity and recreational areas for residents.
The taller of the two buildings is planned to reach 1,055 feet (321.6 meters), positioning it as a supertall building and in the range of other residential supertalls in the region like New York’s Central Park Tower (472.4 meters), 111 West 57th Street (435.3 meters), and 432 Park Avenue (425.7 meters). The towers’ slender forms are designed to allow more daylight to reach the surrounding streets while preserving key view corridors for neighboring residents.
In addition to housing and retail components, the project will include parking for both residents and visitors and a covered entrance to reduce street congestion.
If approved, the development would mark a significant milestone in Jersey City’s ongoing transformation into a major residential and cultural hub, further establishing its place among the nation’s most architecturally ambitious urban centers.
Read more at NJ.com
Council on Tall Buildings and Urban Habitat
skyscraper
13 November 20252 min readPlans Are Unveiled For A 322-Meter Residential Skyscraper In Jersey City
Council on Tall Buildings and Urban Habitat
13 November 2025
skyscraper
